HKG:2439 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	29.11	111.16	83.97	56.51	78.42
Depreciation & Amortization	13.66	14	15.06	12.55	4.63
Loss (Gain) From Sale of Assets	4.94	0.35	0.37	-0	0.18
Provision & Write-off of Bad Debts	-0.3	0.07	0.15	-0	0.22
Other Operating Activities	-4.24	1.82	-1.32	4.33	3.54
Change in Accounts Receivable	8.47	-13.58	-32.47	-1.78	-16.04
Change in Inventory	4.89	-0.99	16.61	-23.82	17.66
Change in Accounts Payable	-28.9	7.27	22.75	-3.39	19.51
Operating Cash Flow	27.64	120.11	105.12	44.4	108.12
Operating Cash Flow Growth	-76.99%	14.25%	136.75%	-58.93%	119.86%
Capital Expenditures	-615.22	-32.15	-44.4	-30.67	-1.67
Sale of Property, Plant & Equipment	11.59	0.61	0.55	0.01	0.06
Sale (Purchase) of Intangibles	-	-	-	-0.1	-
Other Investing Activities	-9.03	0.81	2.5	0.26	0.19
Investing Cash Flow	-612.66	-30.73	-41.35	-30.51	-1.42
Short-Term Debt Issued	-	-	-	10	-
Long-Term Debt Issued	269.63	67.75	57.96	42.35	42
Total Debt Issued	269.63	67.75	57.96	52.35	42
Long-Term Debt Repaid	-75.02	-47.49	-50.62	-54.42	-47
Net Debt Issued (Repaid)	194.61	20.26	7.34	-2.07	-5
Issuance of Common Stock	-	-	175.56	0.01	-
Common Dividends Paid	-	-	-	-	-136.96
Other Financing Activities	-9.98	-2.72	-30.3	-3.03	27.8
Financing Cash Flow	184.63	17.54	152.6	-5.09	-114.16
Foreign Exchange Rate Adjustments	-0.07	0.1	0.1	-	-
Net Cash Flow	-400.47	107.01	216.47	8.8	-7.47
Free Cash Flow	-587.59	87.96	60.72	13.73	106.45
Free Cash Flow Growth	-	44.86%	342.19%	-87.10%	141.67%
Free Cash Flow Margin	-231.86%	21.58%	16.60%	4.58%	41.46%
Free Cash Flow Per Share	-0.59	0.09	0.06	0.02	0.13
Cash Interest Paid	9.98	2.72	3.93	3.39	3.31
Cash Income Tax Paid	10.16	19.06	16.55	11.64	12.77
Levered Free Cash Flow	-604.93	45.89	28.49	7.88	79.89
Unlevered Free Cash Flow	-604.29	47.94	31	10	82.03
Change in Working Capital	-15.54	-7.3	6.9	-28.98	21.13

Source: S&P Global Market Intelligence. Standard template. Financial Sources.